Tax season has arrived, leaving many people contemplating what to do with their refund.
According to the IRS, taxpayers received an average refund of about $3,000 last year. While it may be tempting to view this as "fun money," there are often better uses for a sudden cash influx.
Ameriprise financial advisors are available to discuss:
- Smart ways to "spend" a tax refund, including how to invest it for retirement, education or to reduce debt
- Why consumers who received a large refund might consider reducing their withholdings to increase cash flow throughout the year
- How to apply savings from the temporary employee payroll tax holiday toward key financial goals